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Pharma sector implements Rs. 1,713 crore worth of projects in first half of 2022
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Gireesh Babu, New Delhi
August 20 , 2022
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The pharmaceutical sector has seen implementation of 12 projects with an investment of Rs. 1,713 crore being implemented in the first six months of the year 2022, out of the Industrial Entrepreneur Memorandum (IEM) filed by the industries with the government. This is almost 48 per cent of the total investments made by the industry in 12 months of 2021, based on the IEM commitments.
According to the data from the ministry of commerce and industry, the drugs and pharmaceuticals industry has invested around Rs. 1,713 crore, in 12 projects committed by the industry through IEMs. The investment was Rs. 3,599 crore in 30 projects in 2021, and Rs. 5,599 crore in 39 projects in the year 2020. These numbers were filed by the entrepreneurs as Part B filing regarding IEMs implemented, with the Ministry.
Investments into medical and surgical instruments industry implemented based on the IEMs during the first half of the year 2022 was Rs. 13 crore in one IEM, while it was Rs. 213 crore in two IEMs in 12 months of the year 2021 and Rs. 13 crore in one project during 2020.
The pharma sector has seen industries filing 26 IEMs with proposed investment of Rs. 5,401 crore in the first six months of the year 2022. In the year 2021, for the 12 months ended December, the sector has seen 75 IEMs getting filed with investment proposals to the tune of Rs. 13,611 crore. The IEMs filed during 2020 were 77, with an investment proposal of Rs. 7,376 crore, according to the data.
In the medical and surgical instruments segment, during the six months of 2022, two IEMs were filed with a total investment proposal for Rs. 74 crore. In 2021, during the 12 months ended December, the segment saw nine IEMs signed with a total investment proposal of Rs. 556 crore, whereas in the year 2020, a total of nine IEMs for investment of Rs. 467 crore were filed by the industry.
Industrial undertakings exempted from the requirements of Industrial Licensing under the Industries (Development and Regulation) Act, 1951 are required to file information relating to setting up of industries known as IEM (Industrial Entrepreneur Memorandum). All industrial undertakings exempted from the requirements of industrial licensing under I (D&R) Act, 1951 and having an investment in plant and machinery of Rs. 50 crore and above; and turnover of Rs. 250 crore and above, including Existing Units, New undertaking (NU) and New Article (NA), may file an IEM, that is in Form IEM in the prescribed format 'Part A', according to the Ministry.
All Industrial undertakings which had filed IEM are required to report commencement of commercial production and this is also filed on-line on the same portal by way of filing information as per prescribed form 'Part B' of the IEM after commencement of commercial production by the establishment.
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